Company Briefs: YTL Starhill Global Reit

YTL Starhill Global Reit

YTL Starhill Global Reit's third-quarter distribution per unit was maintained at 1.26 cents, unchanged from a year earlier.

Gross revenue for the three months to March 31 grew 12 per cent to $53.6 million while net property income (NPI) rose by 7 per cent to $41.6 million.

The growth in revenue and NPI was mainly driven by the contribution from Myer Centre Adelaide, which was up 121.8 per cent year on year. This was partially offset by lower contributions from the Wisma Atria property, China and Japan assets, as well as net foreign currency movements.

Income distributable to unitholders was $27.5 million, up 1.3 per cent.

Yeo Hiap Seng

Food and beverage company Yeo Hiap Seng's net profit fell 40.9 per cent to $5.4 million, mainly due to lower net profit from the food and beverage division on the back of lower revenue and higher raw material costs.

Revenue fell to $111 million for the three months to March 31, compared with $121.49 million in the same period last year.

Earnings per share was 0.94 cent, down from 1.59 cents in the same quarter last year.

Net asset value per share was 108.4 cents as at March 31, up from 103.88 cents as at Dec 31.

The group said it expected its food and beverage margins to continue to come under pressure due to poor economic conditions for the company's key markets, competitive selling prices and uncertainty in raw material prices. It added that fluctuations in the regional currencies are also likely to impact their results.

Baker Technology

Baker Technology reversed into a net loss of $2.8 million in the first quarter, compared with a profit of $6.4 million in the same period last year.

This was mainly due to a foreign exchange loss of $2.6 million as a result of the weakening of the US dollar against the Singapore dollar.

Revenue for the three months to March 31 slumped 79 per cent to $6 million, due to the general slowdown of the oil and gas industry.

Loss per share was 0.27 cent against earnings of 0.69 cent previously, while net asset value per share eased to 22.3 cents compared with 22.6 cents as at Dec 31.

A version of this article appeared in the print edition of The Straits Times on April 23, 2016, with the headline 'Company Briefs'. Subscribe